Intel Corporation (INTC) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Intel Corporation (NASDAQ:INTC) from a hold rating to a buy rating in a report issued on Thursday. Zacks Investment Research currently has $39.00 price target on the chip maker’s stock.
According to Zacks, “Intel’s growing focus on the data-centric part of the business is positive. The launch of Xeon Scalable is anticipated to improve its footprint in the data center as well as AI space, going forward. The company unveiled Myriad X, which will boost footprint in the IoT space.Moreover, the recent Core 8 launch will boost PC market share amid intensifying competition from AMD. We note that the top-PC makers like HP, Lenovo, and Asus are set to launch PCs based on Qualcomm’s ARM-based Snapdragon processor, which is a headwind for the company. Further, anticipated improvement in cost structure and lower spending, primarily due to improving operational efficiency will aid in expansion of margins going forward. Additionally, aggressive share buyback will boost the bottom line in 2017. However, we note that Intel has underperformed the industry on a year-to-date basis. Moreover, declining PC-shipments is a concern.”
Several other equities research analysts also recently weighed in on the company. BidaskClub downgraded Intel Corporation from a hold rating to a sell rating in a report on Friday, August 25th. Vetr raised Intel Corporation from a buy rating to a strong-buy rating and set a $41.56 price target for the company in a report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a sell rating on shares of Intel Corporation in a report on Thursday, August 24th. Argus reaffirmed a buy rating and set a $45.00 price target on shares of Intel Corporation in a report on Wednesday, August 23rd. Finally, Rosenblatt Securities reaffirmed a sell rating on shares of Intel Corporation in a report on Wednesday, August 23rd. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intel Corporation has an average rating of Hold and a consensus price target of $40.55.
Intel Corporation (NASDAQ:INTC) opened at 35.09 on Thursday. Intel Corporation has a 52-week low of $33.23 and a 52-week high of $38.45. The stock has a market capitalization of $164.89 billion, a price-to-earnings ratio of 13.39 and a beta of 1.02. The firm’s 50-day moving average is $35.31 and its 200-day moving average is $35.55.
Intel Corporation (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. The firm had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that Intel Corporation will post $3.01 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were issued a dividend of $0.2725 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.09 annualized dividend and a dividend yield of 3.11%. Intel Corporation’s payout ratio is currently 41.76%.
In related news, CEO Brian M. Krzanich sold 72,173 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now directly owns 534,746 shares in the company, valued at approximately $18,015,592.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Diane M. Bryant sold 1,639 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $34.65, for a total value of $56,791.35. Following the sale, the executive vice president now owns 114,542 shares in the company, valued at $3,968,880.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,921 shares of company stock worth $3,130,162. Company insiders own 0.08% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Watermark Asset Management Inc. purchased a new stake in shares of Intel Corporation during the 1st quarter valued at about $113,000. Acrospire Investment Management LLC raised its holdings in shares of Intel Corporation by 111.8% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,600 shares of the chip maker’s stock valued at $121,000 after buying an additional 1,900 shares during the period. Orrstown Financial Services Inc. raised its holdings in shares of Intel Corporation by 96.6% during the 1st quarter. Orrstown Financial Services Inc. now owns 3,725 shares of the chip maker’s stock valued at $134,000 after buying an additional 1,830 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in shares of Intel Corporation by 53.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,040 shares of the chip maker’s stock valued at $146,000 after buying an additional 1,400 shares during the period. Finally, Vigilant Capital Management LLC raised its holdings in shares of Intel Corporation by 22.6% during the 1st quarter. Vigilant Capital Management LLC now owns 4,373 shares of the chip maker’s stock valued at $158,000 after buying an additional 805 shares during the period. Institutional investors and hedge funds own 67.09% of the company’s stock.
About Intel Corporation
Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).
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